Wellspring Financial Advisors LLC Sells 341 Shares of RTX Co. (NYSE:RTX)

Wellspring Financial Advisors LLC lessened its holdings in RTX Co. (NYSE:RTX) by 12.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,442 shares of the company’s stock after selling 341 shares during the period. Wellspring Financial Advisors LLC’s holdings in RTX were worth $283,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of RTX by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after acquiring an additional 1,252,448 shares in the last quarter. Geode Capital Management LLC boosted its position in RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company’s stock worth $3,263,610,000 after purchasing an additional 1,000,722 shares during the period. Fisher Asset Management LLC grew its holdings in RTX by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock valued at $2,204,198,000 after purchasing an additional 576,214 shares during the last quarter. Franklin Resources Inc. raised its position in shares of RTX by 3.8% in the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company’s stock valued at $1,922,264,000 after purchasing an additional 603,159 shares during the period. Finally, Norges Bank acquired a new stake in shares of RTX in the fourth quarter worth $1,745,644,000. 86.50% of the stock is currently owned by institutional investors.

Insider Activity at RTX

In other news, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the sale, the chief financial officer now owns 59,556 shares of the company’s stock, valued at $7,763,124.60. This represents a 21.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock worth $10,309,302 over the last ninety days. Company insiders own 0.15% of the company’s stock.

RTX Stock Performance

RTX stock opened at $117.43 on Monday. The company has a 50 day moving average price of $129.05 and a 200 day moving average price of $123.42. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $136.17. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The stock has a market capitalization of $156.78 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio (DPR) is 70.99%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RTX. Morgan Stanley lifted their target price on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. upped their price objective on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Bank of America raised their target price on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and upped their price target for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and an average target price of $166.40.

RTX Company Profile

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.